How quickly things can change. In autumn, for a four-day blockchain series, I went to the Crypto Valley in Zug. An ideal world full of confidence and a spirit of optimism.
Shortly thereafter, an explosion occurred: FTX, the third largest crypto exchange in the world, went bankrupt. Other trading platforms have also faltered, with rumors recently circulating that even Binance, the world’s largest crypto exchange, is in trouble. Slogans about perseverance followed from the Crypto Valley. The message to the outside world remains the same: all is well, and the future will be even better.
Facade only. In recent weeks, the Blick editorial team has spoken to numerous people from the Valley. Your statements paint a picture of fear. Wild rumors are going around. The name of Olga Feldmayer, one of the figureheads of the scene, constantly pops up. Some of these questions are legitimate — in some cases, Feldmeier is under attack especially hard in the male-dominated crypto valley because she is a woman.
What is amazing: in the outside world, no one wants to expose their name and speak critically. The fear of damage to the image of the crypto valley, from which everyone ultimately benefits, is too great.
The Valley people would do well with more open communication and a more self-critical attitude. The ideal world they make us believe in is no longer bought from them. Trust suffers, as can also be seen in the emails from the Blick community.
Switzerland can consider itself lucky to have one of the largest crypto valleys in the world in Zug. 1200 companies, 6000 jobs – that’s impressive. Blockchain is the technology of tomorrow with great potential. Comparisons to the 1990s and the breakthrough of the Internet are not made out of thin air.
For the benefit of the Swiss economy, we remain at the forefront of blockchain. So that we all benefit when technology becomes usable by the masses and becomes big business.
So, dear Crypto Valley: less self-praise and self-image, more criticism and openness. After all, you came to stay, didn’t you?
Nicholas Imfeld
Source: Blick
I am David Miller, a highly experienced news reporter and author for 24 Instant News. I specialize in opinion pieces and have written extensively on current events, politics, social issues, and more. My writing has been featured in major publications such as The New York Times, The Guardian, and BBC News. I strive to be fair-minded while also producing thought-provoking content that encourages readers to engage with the topics I discuss.
